PPP - Madhya Pradesh Road Development Corporation Limited

advertisement
Vivek Aggarwal
Managing Director,
MP Road Dev. Corporation
Bhopal (M.P.)

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PPP Cell in Directorate of Institutional Finance
Cabinet Committee on PPP constituted under
Chairmanship of Hon’ble Chief Minister
VGF as well as non VGF models followed for various
sectors.
MP Infrastructure Investment Fund Board
◦ Estabished for support of unviable infra projects
◦ VGF contributon of GoMP released through MPIIFB
Portfolio
Number of
Projects
Cost of
Projects
(In Rs.)
Cost of Projects
(In Billion dollar)
223
33942.83
6.7886
Sector-Wise Summary
Sector
Number
Cost
Education
4
651.2
Energy
4
552.72
Health
3
1010.64
Industry
8
925.75
IT
3
263
162
25585
Sports
2
1600
Tourism
6
177
Transport
4
1389.88
22
1079.14
Warehousing and Logistics
3
628.5
Dairy
2
80
Road
Urban
5

MP was known for bad roads and poor maintenance

Improper design based on traditional approach

Budget driven construction methodology in place of
demand driven

Poor fund flow for projects – low Budget outlay

Result:- Poor Connectivity, low industrial
investment, sluggish business growth.

MP Road Development Corporation Ltd.
Incorporated in July 2004.

MPRDC made the successor/assignee of MPRSNN;
all projects of MPRSNN were domained in MPRDC


Notified as “Highway Authority” for State Highways
under Madhya Pradesh Rajmarg Adhiniyam, 2004
(No.11 of 2005)
Chief Minister heads the Board of Directors with
Chief Secretary as Vice Chairperson

To act as a State Highway Authority.

To upgrade, construct and strengthen the total
length of State Highways.

To develop projects in the State on public
private partnership basis.
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Viability Gap Funding.
Premium
Concession Fee.
Independent Engineer.
Financial Closure.
Appointed Day.
Concession Period.
User Fees.
Commercial Operation Date.
Schedule of standards and specifications.
9
Invite private investment by providing grant/ premium
to/by the concessionaire on competitive bidding
Second
Choice
Public Private Partnership (First Choice)
Contract Scheme
Build – Operate – Transfer Scheme.
ADB
OMT
State
Budget
BOT
(Toll)
BOT
BOT (Toll Deemed
(Annuity) + Annuity) Shadow
S. No
Details
No. of Roads
Length
(in km.)
Cost
(` in crores)
1
BOT Projects Completed SH
24
2600
4581
2
BOT (Toll+Annuity )Projects Completed SH
5
203
358
3
BOT Projects Completed National Highways
1
108
314
4
BOT Projects In Progress SH
13
971
1927
5
BOT (Toll+Annuity )Projects In Progress SH
18
817
1795
6
BOT Projects In Progress National Highways
7
567
4199
7
BOT Projects Proposed SH
6
90
479
8
BOT (Toll+Annuity )Projects In Progress SH
9
827
1827
9
BOT Projects In Progress National Highways
4
768
4624
10
Annuity (MDR)
69
2257
3791
11
OMT
4
283
45
12
24 Border Check Post
One Project
-
1094
13
17 ROB Group-I
One Project
-
795
14
18 ROB Group-II
One Project
-
850
163
9491
26679
Total PPP Projects
12
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Pioneer in the field of road sector development through Public
Private Partnership in the country.
Adopted DBFOT Model of Tendering based on Model
Concession Agreement of Planning Commission GOI.
First agency in the country to get VGF from GOI.
Under VGF scheme of GOI
40 % of project cost is sanctioned to make projects viable.
20% is given by GOI.
20% is given by the State Government.
GOI has sanctioned 663.35 Crores VGF for 24 BOT projects
of MPRDC.
In several Projects MPRDC receives Premium.
VGF/Premium is the bidding Criteria.
Distance based user fee (Toll).
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Feasibility study by Feasibility consultant.
Financial analysis in-house in MPRDC on the basis of traffic survey &
cost estimates .
State Level Empowered Committee under the chairmanship of Chief
Secretary GOMP approves the proposals of BOT projects.
State government accords the administrative approval.
Empowered Institution, DEA, GOI sanctions VGF.
Two-Stage bidding (RFQ & RFP).
Financial closure within 180 days of agreement date.
Penalty for delays.
Monitoring by Independent engineer.
Land acquisition by MPRDC.
Utility Shifting by the concessionaire.
Expenditure on LA & Utility Shifting is borne by the state
government.
Fee of Independent engineer is shared by MPRDC & Concessionaire.
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Hybrid Model of BOT (Toll) & BOT(Annuity).
Formulated to increase Viability of the projects which are
not viable on pure toll.
Toll as a sweetener.
Concession Period is kept 15 years including of 2 years of
construction.
Six Monthly Annuity is quoted by the bidders.
Annuity is the bidding criteria.
Annuity is the deferred payment over a period of 13 years
as per payment schedule defined in Concession Agreement.
Incentive for early completion as a bonus along with first
annuity.
Penalty for delay as a reduction of annuity.
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Formulated to implement the which are not viable on
pure toll or Toll+ Annuity Models.
Concession Period is kept 15 years including of 2 years
of construction.
Six Monthly Annuity is quoted by the bidders.
Annuity is the bidding criteria.
Annuity is the deferred payment over a period of 13
years as per payment schedule defined in Concession
Agreement.
Incentive for early completion as a bonus along with
first annuity.
Penalty for delay as a reduction of annuity.
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It’s a PPP model.
Acts as sweetener to increase the viability of project which
are not viable with maximum permissible VGF of 40%.
It is given in addition to maximum VGF of 40% with
maximum limit of 10%.
Deemed shadow Toll is given in lieu of exempted vehicles
like Govt. vehicles, Military vehicles, vehicles of MLA etc.
This will be contributed by State Government.
Proposal of deemed shadow fee model is pending with
DEA GOI.

Transfer) mode under Public Private partnership.

Above roads MPRDC has envisaged to take up roads on OMT
(Operate Maintain & are developed by MPRDC through ADB
funding/Budgetary Support of the State Government.

14 such roads are identified by MPRDC amongst which 3 roads are
awarded on Premium & 1 is under tender stage.

Concession Period – Project specific, normally 9-12 years

Concessionaire to undertake management, operation & maintenance
of Highways
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Augmentation of facility to be done
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Construction, monitoring and inspection by Independent Engineer.
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Concessionaire to pay Concession Fee to the Authority.
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Concession Fee is the bidding parameter.
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This fee to increase by 10% per year as compared to
the immediately proceeding year.
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Concessionaire can seek O&M support also.
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User Fee - pre-decided, increase on the basis of WPI

Exemption for non commercial traffic
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Only Commercial vehicles to pay Fee
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Escrow mechanism for fund flow.
20
Project of Border Checkposts
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24 Border Checkposts
Purpose :-
• To increase revenue of State Government
• To control overloading & damage to state roads
• To reduce leakage & corruption
•To provide full transparency
• Cost Rs. 1150 crores incl 56 crores for LA &
Utility Shifting
• Rs. 1094 cr borne by Concessionaire, balance by
State
Border Checkposts
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Concessionaire to charge service fee per vehicle
for construction, O & M
Computerized integrated system; online central
control at Gwalior & Indore
Concession of 4566 days incl construction of 730
days
Integrated project for Transport, Commercial tax,
Forest, Mandi & Mining deptt
Checkposts will serve as facilitation centre also
22
 Type of Checkpost are as under,
 Large Check Posts (9+9 lanes) at 4 locations
 Medium Check Post (7+7 lanes) at 6 locations
 Small Check Post (4+4 lanes) at 11 locations
 Single Side Check Post (3 lanes) at 3 locations
 Two Central Control Facilities centers at Gwalior &
Indore.
23
Road WorksRigid Pavement
Traffic Signages type XI
Parking & detention Area
Building Works
Administrative building
Godowns
Loading & Unloading platform
Residential Blocks
Operator booths
Facility Centre
Toilet Blocks
 Canopy
24 hours Electric & Water Supply
24
SURVEILLANCE CAMERA
CENTRAL
ALL TRANSACTIONS,
VEHICLE PICTURES DIMENSIONS MEASUREMENT EQUIPEMENTS
CONTROL FACILITY
License Plate
Reader Camera
Barrier &
Traffic Lights
Control
RFID
Reader
Lane
Traffic
Controller
Lane Computer
WEIGHING
CONTROLLER
WEIGHBRIDGE
Automatic Vehicle
Classification System
25
Admin
Block
Residential
Blocks
Parking
/Detention
Area
9+9 lanes
Weigh Bridges
Parking
/Detentio
n Area
Godowns
Facility
Centre
26
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Checking:- From random vehicles to 100%
Waiting Time:- 2–3 Mins instead of 1-2
hours
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Substantial Revenue Increase
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Controlling Overloading
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Convenience to Road users
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Minimizing Human Intervention/ Discretion
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Real Time Surveillance under one roof
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Reduction in Operation Cost of Govt.
27
Project (ROBs/RUBs)
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35 ROB’s & RUB’s on existing LC’s of Railway:
Railway Share
State Cost
Total cost
Rs. 439.20 crores
(45% of TPC)
Rs. 537.60 crores (55%
of TPC)
Rs. 976.80
crores
Feasibility Consultant appointed in March 2012.
Project of ROB’s is divided in two groups having 17 ROB’s in one
group & 18 ROB’s in second group.
Survey of alignment & GAD of ROB of Ist group is completed &
IInd group is in progress in coordination with railways.
Due to delays in approval of GAD & cost ,Group-I is proposed to
be taken up in VGF Scheme of Deptt. Of Economic Affairs for 40%
grant independently by MPRDC without sharing by Railway.
Project (ROBs/RUBs)
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To improve financial viability of ROB project following rates
have been adopted
Type of
vehicle
Car
LCV,
Minibus
Bus
Trucks
3 Axles &
Multiaxles
Rates (in Rs.)
7
17.50
35
42
84
GAD’s, Cost Estimates of Group-I(17 ROB’s) have been
prepared & cost in Rs.763.81 crores .In Group-I , GAD of 16
ROB & 2 LHS approved. SLEC has granted approval to group
No. I.
Project will be implemented through PPP by VGF of 40% and
Investment of Concessionaire.
The RFQ has been invited for group No. I.
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GOMP has enacted the Madhya Pradesh Rajmarg Nidhi
Adhiniyam 2012
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To Provide for the establishment of a Fund for investments
in the highways & infrastructure projects of the State.
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To provide for administration of the said fund.
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To monitor & supervise the activities financed from the
fund & for matters connected therewith or incidental
thereto.
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Corpus of the Fund is 125 Crores (approx.).
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Executive Committee under the chairmen chief Secretary to
administer the fund.
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The Contribution or Grant or Loan or Advance if specially credited
to Fund by the State.
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All payments of Premium made by the concessionaire to MPRDC.
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All returns on investments made out of the Fund.
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Proceeds towards encashment of Performance Security or Bid
Security by MPRDC for default of Concessionaires or Bidders.
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Any other amount authorised for credit to the Fund under the
provisions of this Act or rules.
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Amount already standing as a credit in the accounts of MPRDC
pertaining to the heads mentioned above shall form the initial
corpus of the fund.
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For providing Financial Assistance to a Concessionaire on behalf of
Authority in respect of a Highway or Infrastructure Projects.
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For Meeting any Development Cost of Highway or Infrastructure
Project.
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For Defraying the Administrative Expenses of the Executive
Committee.
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For Maintenance and Repair of Highways.
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For Project Preparation, Pre Tender Activities, Cost towards Utility
Shifting ,Land Acquisition.
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For Payment of charges to Authority for various activities
performed under this Act.
Project Snapshot – Logistics Park
Short Description
Setting up Composite Logistics Hub at
Powarkheda, Distt. Hoshangabad
Implementing Agency MP Agricultural Marketing Board
(Mandi Board)
Line Department
Agriculture Department
Location
Powarkheda, Distt. Hoshangabad
(between NH 69 and Delhi-Mumbai
Railway Line next to Powarkheda Rly.
Station
Project Snapshot – Logistics Park Cont..
Area
Concession Period
PPP Mode
Estimated Cost
115 acres land
33 years, extendable by 15 years
DBFOT
Rs. 138.50 crs.
Project Snapshot – Logistics Park Cont..
• 3 years for minimum
facilities (COD)
• 7 years for completion
Bid Process
• 2-Stage
• 13 RFQs recd
• 12 short-listed
Concession awarded to Kesar Logistics, Ahmedabad
Bidding Parameter
Highest Upfront Premium
Construction period
Considerations For Determining PIA for logistic
hub
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Cargo originating and consumption clusters
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Consolidation and distribution centers
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Location of competing facilities
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Potential of attracting transshipment cargo
Key Findings
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Major cargo consumption centre in Madhya
Pradesh are outside 200 kms of project site except
Bhopal
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Originating clusters within PIA include locations
like Mandideep, Budhni, Itarsi, Piparia etc. All are
within 100 km from proposed Logistics Hub
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All consumption centers outside 100 Km radius
have presence of competing facilities
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Service demand and supply gap within these
facilities
Conclusions

PIA area considered restricted to radius of 100
km, though for certain commodities PIA might
extent beyond considered radius
43
44
Rail Handling
•
Rail Terminal
•
Warehousing
•
Container Freight Station
•
Cold Storage
•
Grain & Horticulture Procurement
•
Agro & Horticulture Services
•
Market Information Systems
•
•
Trading & Collective Marketing
Container
Freight
Station
Cold Storage
Warehousing
Trucking Hub
Truck Parking
Facility Lighting
Water & Sewage Management
Power Back-up
Garbage Management
Compost Plant
Grain
Procurement
Negotiable Warehouse Receipts
Horticulture
Procurement
Agro &
Horticulture
Services
45
Railways
Terminal
Common
Facilities
CFS
Logistics
Hub
Modern
Bulk
Warehouse
Ware
House
Cold
Storage
Mandi
Processing
Facility
46
47
The objective here is to empower the farmer by enabling him to sell his produce as and when he needs to, thus generating good remuneration
which is only possible by integrating the value chain from Procurement to Logistics under one umbrella. Apart from being one of the first Farm
to Fork facility in India with true end to end integration, the social return on investment will be achieved at various levels as highlighted below :
State of the art warehousing facility , brings
efficiency and reduces wastage
 Commodity wise state of the art
storage facilities
Storage

Marketing
r
Procu
Value Addition & Process Integration with
procurement
Better & Higher Prices to stake holders ,
access to processing and less wastage.
End to End Integration with Dedicated
Logistics and Transport Infrastructure
t
emen
Storage
ting
Marke
Processing
&
g & Addition
n
i
s
s
e
Value
Proc
on
Additi
Value
Procurement
t
anspor
r
T
&
ics
Logist
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Dedicated Marketing Facilities
Farmers
Negotiable
Warehousing Receipts
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Auction Halls
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 Integrated Whole Sale Market with
Auction Hall
 Process Oriented market design
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 State of the art processing facility
Scope of Value Add Services
 Trucking Hub
Integrated storage & processing Units
 EXIM stuffing and destuffing
 Inland Container & Bulk Terminal
FarmFarm
to Fork
Integration
to Fork
Integration
Empowering the farmer right to sell when and
where to sell
48
Develops Common Infrastructure & Basic Facilities
Agency 1
MPWLC
Land Sublease &
Development Agreement
of 32 years
Private Player
Agency 2
Upfront Payment
The Project was successfully closed
with Kesar Terminals Ltd.
offering approx 14 crore
premium to GoMP
Engages individual Agencies
Upfront premium
or Development
Charges to
private player
Agency N
Individual Agencies
further develop,
operate & maintain
various components
of project
49
51
Short Description Development of Transmission System by
construction of 400 KV (DCDS)
Transmission Line between Satpura and
Astha for evacuation of Power from 2 x
250 MW extension unit at Satpura Thermal
Power Station
Type of PPP
DBFOT (Design - Build - Finance - Operate Transfer)
Location
Total Length
Implementing
Authority
Satpura (Sarni) to Ashta (via Betul,
Hoshangabad, Dewas and Sehore)
240 KMs
M P Power Transmission Company Limited,
Jabalpur (MPPTCL)
Estimated Rs. 282.72 crores
cost
Financing
Without VGF
84.82 crores
- Equity 30%:
- VGF (35%)
(a) GoI (20%)
(b) GoMP (15%)
- Debt (70%)
197.90 crores
______________
Total
Rs.282.72 crores
With VGF (maxi.35%)
55.14 crores
56.54 crores
42.41 crores
128.63 crores
_____________
Rs.282.72 crores
Without VGF, equity IRR low (12.32%)
For reasonable IRR (15 - 16%), 35% VGF required
Actual Financing Means:
• Equity : 67.48 crs
• VGF GoI : 56.54 crs
• Debt
: 158.68 crs
• Total
: 282.70 crs
GoMP to provide VGF Rs. 42.41 crs. @15% of
cost (O&M support) in 15 equal quarterly
instalments; will add to revenue stream for
repayment
Financing
By private partner
Arrangement
Equity IRR
Based on 25 years of concession
(including 15 months construction)
-Without VGF
12.32 %
- With VGF (35%)
15.50%
NPV of revenue stream Rs. 255.71 crores
(@10%)
Description • Evacuation of Power from 2x250 MW Unit at
Satpura by constructing 400 KV SatpuraAstha line
• Scope includes performance and execution of:
–
–
–
–
–
–
–
Design
Engineering
Financing
Procurement
Construction
Completion
O & M and Transfer
Justification • 2 new units 2x250 MW are being installed at
for Project
Satpura
• Load flow studies establish need for construction of
400 KV DCDS Transmission Line from Satpura to
Ashta
• Transmission Lines, being capital intensive, need
substantial funds
• In view of line necessity and paucity of funds, it is
prudent to develop the same through PPP
Concessio 25 years (incl 15 months construction)
n Period
Provision for 10 yrs extension
Bid
Two-stage (RFQ + RFP)
Process
RFQ
Criteria
1. Financial capacity :
•
Net worth Rs. 71.00 crores
2. Technical capacity:
•



Over the past 5 years :-
paid for / received payments, for construction of
eligible projects
paid for development of eligible project Cat-I and/or
Cat-II
collected and appropriated revenues from Eligible
Projects in Cat-I and/or Cat-II
Eligible Projects :
• Cat-I - Power Sector projects under PPP (weightage 1.45)
–
(Project cost Rs. 57.00 crores)
• Cat-II - Core Sector projects under PPP (weightage 0.85)
–
(Project cost Rs. 57.00 crores)
• Cat-III-Construction experience Power Sector projects
(weightage 0.85) (Receipt Rs. 57.00 crores in 5 years)
• Cat IV - Construction experience Core Sector projects
(weightage 0.45) (Receipt Rs. 57.00 crores in 5 years)
Threshold Technical Capacity : Rs. 566.00 crores
Bidding
Lowest Grant (VGF) / Highest Premium
Parameter - Premium (to be quoted in terms of percent of Unitary
Charge i.e. percent reduction in Unitary Charge)
Bid Security
Performance
Security
Rs. 3.00 crores
Rs. 11.00 crores (3.89 %)
Revenue
Stream
(i) Monthly Fee (“Unitary Charge")
(ii) 20% of actual wheeling charges (additional
revenue) for transmission for other parties, on
spare capacity availability (80% of additional
revenue for Authority), and
(iii) 75% Revenue from Advertisement on poles
Fixed by Authority, with MPERC approval
User Charge
Rs. 3.15 crores / month
Unitary
Charge for
1st year
Reduced by 3% and revised to reflect 30% of WPI
Annual
variation
Charge
Revision
•
Project has been awarded to M/s Kalpataru Power Transmission
Ltd., Gandhinagar, Gujarat .
•
VGF : Rs. 60.75 Cr.
•
Completion period: 15 months (460 days) from the Appointed
date/Financial Closure.
62
S
N
Project
PPP Implementing
Type
Agency
1
ADB Pilot - 24x7 and
NRW Water reduction
OMT
2
ADB Pilot - 24x7 and
NRW Water reduction
Cost
Status
Indore
MC
13.94
Bidding
OMT
Bhopal
MC
10.96
Bidding
3
Bus stops for city service.
200 sq. ft. advt per stop
(100 nos)
BOOT
Bhopal
MC
2.25
Completed
4
Procurement & Operation
of Modern Low floor
buses for Indore city
(111 buses on 15 routes.
5 operators selected.)
BOT
Indore
MC
59.75 Completed
5
Toilets with advt rights
(36)
BOOT
Bhopal
MC
7 .00
Completed
S
N
Project
PPP
Type
Implementing
Agency
Cost
Status
6
Procurement & Operation of
Modern Low floor buses for
Bhopal city JNNURM
sanction of GoI. 50:20:30
funding of GoI, GoMP, ULB.
110 buses on 6 routes
BOT
Bhopal
MC
85
Completed
7
Foot Over Bridges
BOT
N P P Rau
2.12
Construction
8
Commercial Cplx
construction 1.29 acres and BOOT
O&M of Bus terminal
9
Water supply augmentation
and 24x7 supply
BOT
Khandwa
MC
105
Construction
10
Multi-Level Parking at
Indore (7 sites)
BOOT
Indore
MC
56
Construction
Rewa
MC
20.46 Construction
S
N
Project
PPP Implementing
Type
Agency
11
Water supply augmentation
and 24x7 supply Rs. 15.4/KL
BOT
12
MLP at Old Bus Stand
Kampoo (731.25 Sq Mts and
2027.96 Sq Mts) IIPDF
approved
BOOT
Gwalior M C 18.55
Pipeline
13
Bus Terminals (3) IIPDF
approved
BOOT
Bhopal M C
43.6
Pipeline
14
Multi Level Parking at New
Mkt
BOT
Bhopal M C
51
Pipeline
15
Multi Level Parking at M.P.
Nagar
BOT
Bhopal M C
38.67
Pipeline
NPP
Shivpuri
Cost
Status
65
Construction
S
N
Project
PPP
Type
16
Commercial Complex and
Office of Municipal Corporation
BOT
17
MLP In front of Nigam
Shopping Complex Daulat Ganj
(300.00 Sq Mts)
Implementing
Cost
Status
Dewas
MC
45
Pipeline
BOOT
Gwalior
MC
8.2
Pipeline
18
Reduction of Non-Revenue
Water and Improvement of
Water Supply Services in
Bhopal
BOT
Bhopal
MC
415
Pipeline
19
Hospital Project at Old Nigam
Work Shop, Dholi Bua ka Pull
(2330.60 Sq Mts)
BOOT
Gwalior
MC
13.64 Pipeline
20
ADB Pilot - 24x7 and NRW
Water reduction
OMT
Gwalior
MC
26.87 Pipeline
Agency
S
N
Project
PPP
Type
Implementing
Agency
21
Commercial Complex at Nagar
Nigam Workshop on 0.81 ha
BOT
Jabalpur
MC
22
Commercial Complex at Bhais
Khana on 0.4 ha
BOT
Satna
MC
16
Pipeline
23
Parking Cum Commercial at
Gandhi Mkt, Maharaj Bada for
300 cars, 252 shops
relocation. (5,228 Sq. Mt.)
BOOT
Gwalior
MC
100
Pipeline
Cost
Status
31.52 Pipeline
67
68
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